GROUP | Bank | ||||
For the year ended December 31, | Note | 2022 Rs. ’000 |
2021 Rs. ’000 |
2022 Rs. ’000 |
2021 Rs. ’000 |
Cash flows from operating activities | |||||
Profit before income tax | 24,505,038 | 32,957,324 | 22,598,385 | 32,001,203 | |
Adjustments for: | |||||
Non-cash items included in profit before tax | 63 | 91,299,070 | 30,473,593 | 90,747,133 | 30,013,192 |
Change in operating assets | 64 | (463,345,077) | (230,261,220) | (424,402,972) | (221,556,713) |
Change in operating liabilities | 65 | 430,778,836 | 208,070,200 | 396,536,876 | 200,391,382 |
(Gains)/losses on sale of property, plant and equipment | 17 | (20,118) | (4,054) | (10,868) | (5,164) |
Share of (profit)/loss of associate, net of tax | 37.1 | 3,727 | (1,896) | – | – |
Dividends received from investments in associate and subsidiaries | 17 | – | – | (109,600) | (105,911) |
Interest expense on subordinated liabilities | 13.2 | 4,843,571 | 3,398,554 | 4,843,571 | 3,398,554 |
Net unrealised gains/(losses) arising from translating the Financial Statements of foreign operations | 55.4 | 18,347,815 | 1,278,891 | 14,876,983 | 1,152,856 |
Benefits paid on defined benefit plans | (780,828) | (1,116,195) | (765,208) | (1,107,421) | |
Income tax paid | 47 | (11,143,271) | (8,963,620) | (10,643,395) | (8,660,823) |
Surcharge tax paid | (5,216,574) | – | (5,036,184) | – | |
Net cash from/(used in) operating activities | 89,272,189 | 35,831,577 | 88,634,721 | 35,521,155 | |
Cash flows from investing activities | |||||
Purchase of property, plant and equipment | 38.1 to 38.4 |
(3,370,339) | (1,034,299) | (3,144,592) | (922,623) |
Proceeds from sale of property, plant and equipment | 47,856 | 49,463 | 12,132 | 14,335 | |
Purchase of financial investments | (1,200,000) | (5,607,000) | (1,200,000) | (5,607,000) | |
Proceeds from sale and maturity of financial investments | 952,369 | 484,800 | 952,369 | 484,800 | |
Purchase of intangible assets | 40.1 & 40.2 | (2,224,915) | (810,454) | (2,218,024) | (768,047) |
Dividends received from investments in associate and subsidiaries | 17 | – | – | 109,600 | 105,911 |
Net cash from/(used in) investing activities | (5,795,029) | (6,917,490) | (5,488,515) | (6,692,624) | |
Cash flows from financing activities | |||||
Proceeds from issue of ordinary voting shares under employee share option plans | 51 | – | 40,866 | – | 40,866 |
Proceeds from issue of subordinated liabilities | 50 | 10,000,000 | 8,595,470 | 10,000,000 | 8,595,470 |
Redemption of subordinated liabilities | 50 | – | (9,502,140) | – | (9,502,140) |
Interest paid on subordinated liabilities | (4,283,280) | (3,422,766) | (4,283,280) | (3,422,766) | |
Payment of lease liabilities/advance payment of right-of-use assets | (2,055,498) | (1,366,628) | (2,197,452) | (1,548,914) | |
Dividend paid to non-controlling interest | 56 | (14,365) | (15,168) | – | – |
Dividend paid to shareholders | (5,343,490) | (5,159,000) | (5,343,804) | (5,159,284) | |
Net cash from/(used in) financing activities | (1,696,633) | (10,829,366) | (1,824,536) | (10,996,768) | |
Net increase/(decrease) in cash and cash equivalents | 81,780,527 | 18,084,721 | 81,321,670 | 17,831,763 | |
Cash and cash equivalents as at January 01, | 69,342,992 | 51,258,271 | 68,085,631 | 50,253,868 | |
Gross cash and cash equivalents as at December 31, | 28 | 151,123,519 | 69,342,992 | 149,407,301 | 68,085,631 |
Less: Impairment charges on cash and cash equivalents | 28.1 | (14,029) | (7,613) | (13,690) | (7,555) |
Cash and cash equivalents as per Statement of Financial Position | 28 | 151,109,490 | 69,335,379 | 149,393,611 | 68,078,076 |
The Notes 1 to 68 form an integral part of these Financial Statements.